Rainbow's Business Owner's Policy (BOP)
Coverage is provided on policies rated A- Excellent by AM Best (IX Financial Size Category).
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Let's delve into the details of a recent insurance policy we and a Rainbow agent crafted for a Pennsylvania Delicatessen.
Insured Snapshot:
Located in Pennsylvania, this Delicatessen is a great example of Fast Food Restaurants (Commercial Cooking, No Table Service) and of how Rainbow wants to see the nuance in every insured--even if they have a claim. Since the Delicatessen is a tenant, the policy omits building coverage, but covers the $322K TIV (Total Insured Value). The agent and insured chose Rainbow's Premier Package and added on Cyber Liability.
Why We Won:
Agent Donna Bolin knew she had a risk that Rainbow would value:
"This Deli had a fire and we struggled to get replacement coverage. We knew that could work with underwriting and have a conversation so we could place the risk together given the building now has all new equipment and updates, it actually makes it a good risk that other carriers fail to see due to their strict guidelines. Having an underwriter that can be logical and talk a risk through with you is vital to success."
The success story behind this insurance policy is a testament to Rainbow's commitment to human-lead, personalized underwriting. Bill Deemer, Head of Underwriting took the lead on this risk:
“Insured had a prior loss due to a faulty installation of a refrigerator unit. Even though the insured upgraded all refrigerators to avoid a repeat occurrence, other carriers were unwilling to offer terms. Rainbow worked with the agent to win the business.”
In essence, it epitomizes efficiency without compromising on efficacy – something Rainbow aspires to deliver with each submission.
In a dynamic landscape where risk lurks around every corner, securing adequate insurance coverage isn't merely a formality but a strategic imperative. For this Delicatessen in Pennsylvania, our tailored insurance policy serves as a shield, protecting egg and cheeses and hoagie consumers for generations to come 🥪
Rainbow has launched its Excess Liability (XS) for North Carolina restaurants.
Rainbow has launched its Business Owner's Policy (BOP) for NC restaurants
